Overview of precious metal spot price trend
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According to the data of the business agency, the average price of silver in the early trading on June 16 was 4692.33 yuan / kg, up 1.55% on a daily basis, up 1.08% from the average price of 4927.67 yuan / kg in the spot market at the beginning of the month (June 1); Compared with the spot market price at the beginning of the year (January 1), the average price in early trading was 4770 yuan / kg, a decrease of 1.63%.
On June 16, the spot market price of gold was 395.24 yuan / g, up 0.23% on a daily basis, down 0.07% from the early average price of 395.54 yuan / g in the spot market at the beginning of the month (June 1); Compared with the spot market price at the beginning of the year (January 1), the average price in early trading was 372.37 yuan / kg, a decrease of 6.14%.
Comparison of precious metal gold and silver price trends in recent 1 year
In the long term, the price trend of precious metals has a good convergence, the long-term trend is basically the same, and the amplitude is slightly different.
On the 16th, the price of precious metal silver increased significantly, mainly based on the recent good demand expectation of silver industry.
Price trend of precious metals and crude oil
Policy Overview
1. domestic news
According to the data of the Central Bank of China, at the end of the first quarter of 2022, the total assets of China’s financial institutions were 396.39 trillion yuan, an increase of 8.7% year-on-year, of which the total assets of banking institutions were 357.9 trillion yuan, an increase of 8.6% year-on-year; The total assets of securities institutions reached 12.81 trillion yuan, an increase of 18.8% year on year; The total assets of insurance institutions were 25.67 trillion yuan, an increase of 5.8% year-on-year. The liabilities of financial institutions were 360.27 trillion yuan, an increase of 8.6% year-on-year, of which the liabilities of banking institutions were 327.66 trillion yuan, an increase of 8.5% year-on-year; The liabilities of securities institutions amounted to 9.77 trillion yuan, a year-on-year increase of 20.9%; The liabilities of insurance institutions were 22.85 trillion yuan, an increase of 6.1% year-on-year.
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The central bank today conducted a 7-day reverse repurchase operation of 10billion yuan, and the bid winning interest rate was 2.10%, unchanged from the previous period.
2. international news
The Central Bank of Brazil raised interest rates by 50 basis points to 13.25%, in line with market expectations.
The Swiss central bank raised the policy interest rate from -0.75% to -0.25%, which was the first interest rate adjustment in seven years, and the market expectation remained unchanged.
Aftermarket forecast
On Wednesday, the Federal Reserve announced after the meeting that it would increase the target range of the policy interest rate federal funds rate from 0.75% to 1.00% to 1.50% to 1.75%. This is the largest single interest rate increase by the Federal Reserve since november1994 and the first 75 basis points increase by the Federal Reserve in more than 27 years.
The news of interest rate hike was bad for precious metal market, and the news in the early stage was basically digested. After the bad news was realized, the precious metal price began to warm up.
Logically, the market expects the U.S. economy to peak. However, due to the sharp rebound in crude oil prices, inflation expectations have risen again. Inflation expectations support precious metal prices to a certain extent. However, the interest rate increase policies of various countries still suppress the long-term trend of precious metal prices.
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